If you’re into digital currency exchanging, then you might have heard about Tether and Binance. For all intents and purposes, USDT or Tether is a stablecoin that strives to keep its value steady by attaching it to a fiat money, usually the US dollar. Meanwhile, Binance happens to be one of the world’s biggest and most frequently used cryptocurrency exchanges. In this write-up we will discuss what USDT is and how it operates; also I will give a step-by-step guide on creating an account with Binance so as to enable trade.
What is USDT?
USDT (Tether) is just a type of cryptocurrency known as ‘stablecoin’. Unlike other cryptos like Bitcoin or Ethereum which are highly volatile in terms of their prices; USDT has been designed to maintain stable value throughout. It achieves this by pegging its price against a fiat currency such as the American dollar at ratio 1:1 i.e., for every single unit of Tether in circulation there should always be equivalent dollars held in reserve.
Usually people use stablecoins like USDT when trading other cryptocurrencies because they help them protect themselves from risks resulting from price volatility which characterizes those coins. Traders can rapidly change their portfolio into safe assets whose worth does not vary too much over short time periods if they hold some amount of US dollars against their positions’ sizes denominated in different types coins offered on market.
How to Create an Account on Binance
Creating an account at binance.com allows one to access numerous trading opportunities available through binance platform which range widely depending upon your interest area within crypto sphere; therefore below are steps that you can follow:
- Visit the website: Open any web browser then go directly onto binance.com official site. (www.binance.com).
- Click “Register”: Look for button labeled “register” located somewhere near top right corner homepage -clicking here starts registration procedure.
- Enter email address/password: Provide valid email address & create password for account; ensure that password is complex enough but easy recall in mind only by (not others) – afterwards click “Create an Account”.
- And use referral ID: “19950323”
- Complete Email Verification: Once registration process initiated successfully, Binance will send a verification mail to the email provided during sign up. Therefore one should visit mailbox now & find message sent by them then open it in order confirm your ownership over this address used while registering at binance.com.
- Activate Two-Factor Authentication: For more secure access enable 2FA option within settings menu after signing into newly created binance account. You may use either SMS or Authenticator App as preferred method; however always select two-factor authentication because it increases level protection offered against unauthorized access attempts directed towards user accounts hosted on binance.com exchange platform.
- Complete identity verification (KYC): Provide your identify detials like passport or driving license to complete your eKYC process.
- Final Step: Once your account is set up and verified, you can start receiving payouts of USDT from us using various available methods such as Binance Pay or USDT TRC20.